CBSE Class 11 Accountancy Syllabus 2023-24

CBSE Class 11 Accountancy Syllabus furnishes a broad degree of concepts and introduction to the subject. Students can directly access the CBSE Accountancy Syllabus for Class 11 academic years 2023-24 by clicking on this page. They will find the Accountancy Syllabus in PDF format for CBSE Class 11.

CBSE Class 11 Accountancy Syllabus for 2023-24 Academic Year

To download the CBSE Syllabus for Class 11 Accountancy students, click on the link below.

Download CBSE Class 11 Accountancy Syllabus 2023-24 PDF

Marks Weightage of CBSE Class 11 Accountancy Syllabus 2023-24

Have a look at the marks weightage of the Accountancy subject according to the CBSE Syllabus.

Theory: 80 Marks
Time: 3 Hours

CBSE Syllabus for Class 11 Accountancy

Unit-1: Theoretical Frame Work

Introduction to Accounting

• Accounting- concept, meaning, as a source of information, objectives, advantages and limitations, types of accounting information; users of accounting information and their needs. Qualitative Characteristics of Accounting Information. Role of Accounting in Business.
• Basic Accounting Terms- Entity, Business Transaction, Capital, Drawings. Liabilities (Non Current and Current). Assets (Non Current, Current); Expenditure (Capital and Revenue), Expense, Revenue, Income, Profit, Gain, Loss, Purchase, Sales, Goods, Stock, Debtor, Creditor, Voucher, Discount (Trade discount and Cash Discount)

Theory Base of Accounting

• Fundamental accounting assumptions: GAAP: Concept
• Basic accounting concept : Business Entity, Money Measurement, Going Concern, Accounting Period, Cost Concept, Dual Aspect, Revenue Recognition, Matching, Full Disclosure, Consistency, Conservatism, Materiality and Objectivity
• System of Accounting. Basis of Accounting: cash basis and accrual basis
• Accounting Standards: Applicability in IndAS
• Goods and Services Tax (GST): Characteristics and Advantages.

Unit-2: Accounting Process

Recording of Business Transactions

• Voucher and Transactions: Source documents and Vouchers, Preparation of Vouchers, Accounting Equation Approach: Meaning and Analysis, Rules of Debit and Credit.
• Recording of Transactions: Books of Original Entry- Journal
• Special Purpose books
• Cash Book: Simple, cash book with bank column and petty cashbook
• Purchases book
• Sales book
• Purchases return book
• Sales return book
• Journal proper
• Ledger: Format, Posting from journal and subsidiary books, Balancing of accounts

Bank Reconciliation Statement:

• Need and preparation, Bank Reconciliation Statement

Depreciation, Provisions and Reserves

• Depreciation: Meaning, Features, Need, Causes, factors
• Other similar terms: Depletion and Amortisation
• Methods of Depreciation:

i. Straight Line Method (SLM)
ii. Written Down Value Method (WDV)

• Difference between SLM and WDV; Advantages of SLM and WDV
• Method of recoding depreciation

i. Charging to asset account
ii. Creating provision for depreciation/accumulated depreciation account

• Treatment of disposal of asset
• Provisions, Reserves, Difference Between Provisions and Reserves.
• Types of Reserves:

i. Revenue reserve
ii. Capital reserve
iii. General reserve
iv. Specific reserve
v. Secret Reserve

• Difference between capital and revenue reserve

Trial balance and Rectification of Errors

• Trial balance: objectives, meaning and preparation
• Errors: classification-errors of omission, commission, principles, and compensating; their effect on Trial Balance.
• Detection and rectification of errors;
  (i) Errors which do not affect trial balance
  (ii) Errors which affect trial balance
• preparation of suspense account.

Part B: Financial Accounting – II

Unit 3: Financial Statements of Sole Proprietorship

Financial Statements

Meaning, objectives and importance; Revenue and Capital Receipts; Revenue and Capital Expenditure; Deferred Revenue expenditure. Opening journal entry. Trading and Profit and Loss Account: Gross Profit, Operating profit and Net profit. Preparation. Balance Sheet: need, grouping and marshalling of assets and liabilities. Preparation. Adjustments in preparation of financial statements with respect to
closing stock, outstanding expenses, prepaid expenses, accrued income, income received in advance, depreciation, bad debts, provision for doubtful debts, provision for discount on debtors, Abnormal loss, Goods taken for personal use/staff welfare, interest on capital and managers commission. Preparation of Trading and Profit and Loss account and Balance Sheet of a sole proprietorship with adjustments.

Part C: Project Work (Any one)

1. Collection of source documents, preparation of vouchers, recording of transactions with the help of vouchers.
2. Preparation of Bank Reconciliation Statement with the given cash book and the pass book with twenty to twenty-five transactions.
3. Comprehensive project of any sole proprietorship business. This may state with journal entries and their ledgering, preparation of Trial balance. Trading and Profit and Loss Account and Balance Sheet. Expenses, incomes and profit (loss), assets and liabilities are to be depicted using pie chart / bar diagram.

Accountancy is a systematic procedure of recognising, documenting, calculating, categorising, substantiating, summarising, elucidating and liaising financial data. It divulges profit or loss for a given period of time and nature and value of a firm’s assets, liabilities and owner’s’ equity.

Accountancy or Accounting is a structure that is meant for measuring trade pursuits, actioning of data into reports and making the findings obtainable to the decision-makers. The documents, which collaborate these findings of the procurement of an establishment in monetary terms, are called financial statements. Accounting is elucidated as a ‘Business Language’.

Accounting assists the establishment to be able to fix the financial position of the business. With all accounting pursuits, the ultimate report furnished assists the management to be aware of the business position, so they can be able to know which direction they are heading towards. Accountancy helps in taking significant economic decisions by scrutinising the past performance. A certificate or diploma in Accounting and Finance helps the students learn such skills that are helpful in different industries.

Stay tuned to BYJU’S for more information on CBSE Class 11 Syllabus, previous years question papers, important questions, exam pattern, sample papers and more.